Brown Advisory Inc. Increases Stock Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Brown Advisory Inc. lifted its stake in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,616,524 shares of the company's stock after purchasing an additional 283,581 shares during the period. Brown Advisory Inc. owned about 2.42% of Global Medical REIT worth $14,145,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Quarry LP grew its stake in Global Medical REIT by 111.5% during the 4th quarter. Quarry LP now owns 4,940 shares of the company's stock valued at $38,000 after acquiring an additional 2,604 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Global Medical REIT by 58.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock worth $48,000 after purchasing an additional 2,301 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Global Medical REIT by 11,234.4% in the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock valued at $63,000 after purchasing an additional 7,190 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $82,000. Finally, Corton Capital Inc. acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $85,000. Institutional investors and hedge funds own 57.52% of the company's stock.

Global Medical REIT Trading Down 0.4%

GMRE stock traded down $0.03 during midday trading on Friday, hitting $7.13. 470,657 shares of the company's stock were exchanged, compared to its average volume of 512,958. Global Medical REIT Inc. has a 1-year low of $6.06 and a 1-year high of $10.46. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $476.78 million, a PE ratio of 237.75, a P/E/G ratio of 1.22 and a beta of 1.16. The business has a 50-day simple moving average of $6.67 and a two-hundred day simple moving average of $7.56.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.22. Global Medical REIT had a return on equity of 1.68% and a net margin of 5.87%. The firm had revenue of $34.60 million during the quarter, compared to the consensus estimate of $35.49 million. On average, sell-side analysts predict that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.42%. Global Medical REIT's dividend payout ratio is currently 2,000.00%.

Insider Activity at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. bought 102,668 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was purchased at an average price of $6.52 per share, for a total transaction of $669,395.36. Following the acquisition, the chief executive officer owned 102,668 shares of the company's stock, valued at approximately $669,395.36. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company's stock.

Analysts Set New Price Targets

GMRE has been the topic of a number of recent research reports. Robert W. Baird lowered their price objective on Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. B. Riley started coverage on shares of Global Medical REIT in a research report on Thursday, April 3rd. They set a "neutral" rating and a $9.00 price target on the stock. Finally, Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.44.

Global Medical REIT Profile

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.